PerpEquities

Equity · Consumer cyclical

JD.com, Inc. (JD) perpetual futures

JD perpetual futures on 9 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade JDUSDT.

JD.com is a Chinese technology and service company with supply-chain-centric operations, offering retail products, an online marketplace, logistics, and digital solutions.

$28.38-0.2%NASDAQ closed
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venue perp mark · Ourbit (JD/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

9/9 live markets
Venues
9
Live markets
9/9
24h volume
$989KCoverage: 8/9 marketsExchange-reported volume: $3.1M
Open interest
$1.1MCoverage: 8/9 markets
Best liquidity
$782.3K
Ourbit
Tightest spread
+7.0 bps
Ourbit
Highest volume
$345.3K
BingX
Settlement mix
USDT · 8/9
Perp/spot vol.
0.00x
Spot volume $201.2M
OI / float
0.00%
Float $34.1B
Spot performance
1D-0.25%
5D-1.39%
1M+4.50%
6M-7.27%
YTD-1.36%
1Y-10.44%

Venue matrix

9 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BingXTradeJD-USDTTrading$28.39+5.5% APR
+0.00500% every 8h
+17.6 bps$1.8K$345.3K$2.8KUSDT-
HTXTradeJD/USDTTrading$28.580.0% APR
0.000% every 8h
+144.5 bps$4.8K$160.6K$5.1KUSDT-
BybitTradeJD/USDTTrading$28.390.0% APR
0.000% every 8h
+14.1 bps$1.6K$156.7K$129.9KUSDT25x
BitgetTradeJD/USDTTrading$28.420.0% APR
0.000% every 8h
+7.0 bps$560.8K$118K$237.8KUSDT20x
MEXCTradeJD/USDTTrading$28.400.0% APR
0.000% every 8h
+31.7 bps$510.8K$102.4K$538.5KUSDT100x
LBankTradeJD/USDTTrading$28.400.0% APR
0.000% every 8h
+35.2 bps$405.2K$60.2K$34KUSDT20x
Helix (Injective)TradeJD/USDCTrading$28.27+3.6% APR
+0.00042% every 1h
--$44.2K-USDC12x
Gate.ioTradeJD/USDTTrading$28.350.0% APR
0.000% every 8h
+133.5 bps$10.9K$1.6K$17.3KUSDT20x
OurbitTradeJD/USDTTrading$28.380.0% APR
0.000% every 8h
+7.0 bps$782.3K$2.1M⚠$109.6KUSDT100x

Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Adequate liquidity · 4 of 9 venues absorb $10k · Typical cost: +11.5 bps – +24.1 bps

Cheapest execution: Ourbit · +10.4 bps

Too thin: BingX, Bybit

No fresh book data: Gate.io, HTX, Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

JD

Tightest spread

JD

Highest volume

JD

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q2 '26 · filed 2026-08-13 · next report 2026-11-17 · Updated 1h ago
All financials →

Valuation & key figures

Market cap
$38.2B
Updated 1h ago
Revenue
$196B
Trailing 12 months
Revenue growth
+3%
Next fiscal year
Profit margin
+1.1%
P/E
17.5
Peer P/E 14.6
P/S
0.2
Peer P/E
14.6
Similar listed perps
Free cash flow
$4.7B
Trailing 12 months
Net income
$2.2B
Trailing 12 months
Revenue estimate
$201.5B
Next fiscal year
Earnings
2026-11-17
Revenue est. $46B · Updated 1h ago
Dividend
$1
2026-04-09
Revenue (TTM)CN¥1.31T+3.6% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)0.1%-2.3 pp vs a year agoOperating income CN¥1.02B
Net income (TTM)CN¥14.7B-61.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥31.3B+284.0% vs a year agoCapex CN¥19.4B
Diluted EPS (TTM)CN¥10.14-60.3% vs a year agoSum of the last 4 quarters
Net cashCN¥130B+14.8% vs a year agoCash + short-term investments - debt
  • Revenue growth slowing: -3.2% year on yearQ2 '26 revenue CN¥345B, against an average of 10.7% over the four quarters before.
  • Operating margin 0.1% (TTM), -2.3 pp on a year agoOperating income grew -96.6% while revenue grew 3.6%.
  • 95.6% of pre-tax profit is non-operatingPre-tax income CN¥23B vs operating income CN¥1.02B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 1.5% of revenue (a year ago 1.3%)CN¥19.4B invested in the last 4 quarters (+16.4% on a year earlier). Free cash flow CN¥31.3B = 212.5% of net income.

Revenue, operating income and growth

quarterly
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates

Next catalyst

Catalysts

Earnings
2026-11-17
Revenue est. $46B · Updated 1h ago
Dividend
$1
2026-04-09

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20263.18$201.5B+3%15
FY 20274.05$212.8B+9%16
FY 20284.99$223.5B+14%10
FY 20294.88$240.1B+23%4
Q1 20270.99$50.1B+7%6
Q1 20276.54$48.7B+5%2

Company events

6
2026-11-17Earnings · Before market openActual - / Estimate 0.88-
2026-08-13Earnings · Before market openActual 0.93 / Estimate 0.86Beat
2026-05-12EarningsActual 0.74 / Estimate 0.57Beat
2026-04-09Dividend$1-
2026-03-05EarningsActual 0.08 / Estimate 0.07Beat
2025-11-13EarningsActual 0.52 / Estimate 0.46Beat

Peer comparison

Similar listed perps

Company data

Company intelligence

Updated: Oct 3, 2026, 08:42 AM UTC

Company profile

Sector
Consumer Cyclical
Industry
Specialty Retail
Chief executive
Ran Xu
Employees
900,000
IPO date
May 22, 2014
Country
CN
Exchange
NASDAQ Global Select
Website
Altman Z-scorei2.32
Piotroski scorei8/9
Overall ratingiA-
Owner earningsiCN¥30.93BCN¥10.98 per share
ESG risk ratingiB-Industry rank: 104 out of 107

Rating factors

Return on equityi
3
Return on assetsi
3
Debt to equityi
3
Price to earningsi
2
Price to booki
4
Market cap history
$36.72B-0.8%Jun 26 – Sep 26
$34.59B$40.22B$45.85BHigh: $45.85B · 2026-08-10Low: $34.59B · 2026-06-29Latest: $36.72B · 2026-09-21Jun 26Jul 26Aug 26Sep 26
Latest: $36.72B · 2026-09-21High: $45.85B · 2026-08-10Low: $34.59B · 2026-06-29
Largest fund holders
FundWeightShares held
FNDE1.45%5.5M
AVEM0.25%2.6M
EMOP2.46%1.9M
AIAG.L1.72%1.3M
PXH1.46%1.1M
ASIA.AX1.48%541K
GEME3.02%531.1K
VCPA.S0.01%408K
FNCMX0.04%354.7K
THNQ1.77%293.4K
QQQJ0.64%282K
PQNAX1.39%275.9K

Analyst track record

How the analysts covering JD have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings57254
Analysts1731
Buy / hold / sell47 / 7 / 3205 / 45 / 4
Upgrades / downgrades / initiations2 / 4 / 08 / 7 / 2
Price targets hit / missed4 / 51 (7%)18 / 229 (7%)
Avg. return after a rating (TipRanks)-23.0%-29.4%
Best / worst call+30.2% / -40.7%+54.7% / -64.2%

After buy calls on this stock: median 21-day move -4.8% vs S&P 500 -4.8% (n = 223)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Alicia YapCiti45% hit rate on this stock · 20 targets measuredBuytarget $39.00Nov 4, 2026
  2. Joyce JuBank of America Securities36% hit rate on this stock · 14 targets measuredBuytarget $37.00Oct 13, 2026
  3. Jiong ShaoBarclays33% hit rate on this stock · 15 targets measuredBuytarget $38.00Oct 13, 2026

Latest ratings

DateAnalystCallTarget
Nov 9, 2026Eddy WangMorgan StanleySellMaintained$23.00
Nov 4, 2026Alicia YapCitiBuyMaintained$39.00
Nov 3, 2026Wei FangMizuho SecuritiesBuyMaintained$37.00
Nov 3, 2026Wei FangMizuho SecuritiesBuyMaintained$37.00
Oct 14, 2026Saiyi HeCMB International SecuritiesBuyMaintained$47.20
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$26.00$28.00$30.00$32.00$34.00$36.00$38.00$40.00Dec 25 · Buy 11 · Hold 2 · Sell 1Dec 25Jan 26 · Buy 8 · Hold 2 · Sell 1Feb 26 · Buy 6 · Hold 1 · Sell 1Feb 26Mar 26 · Buy 7 · Hold 2 · Sell 1Apr 26 · Buy 10 · Hold 1 · Sell 1Apr 26May 26 · Buy 10 · Hold 1 · Sell 1Jun 26 · Buy 10 · Hold 2 · Sell 1Jun 26Jul 26 · Buy 10 · Hold 2 · Sell 1Aug 26 · Buy 12 · Hold 2 · Sell 1Aug 26Sep 26 · Buy 11 · Hold 3 · Sell 0Oct 26 · Buy 10 · Hold 4 · Sell 0Oct 26Nov 26 · Buy 10 · Hold 4 · Sell 0Dec 25 · avg. target $39.96Jan 26 · avg. target $37.25Feb 26 · avg. target $37.10Mar 26 · avg. target $35.05Apr 26 · avg. target $36.35May 26 · avg. target $37.45Jun 26 · avg. target $36.50Jul 26 · avg. target $36.59Aug 26 · avg. target $36.72Sep 26 · avg. target $37.33Oct 26 · avg. target $37.87Nov 26 · avg. target $37.73Dec 25 · month-end close $28.70Jan 26 · month-end close $28.48Feb 26 · month-end close $26.53Mar 26 · month-end close $29.57Apr 26 · month-end close $30.32May 26 · month-end close $28.83Jun 26 · month-end close $25.48Jul 26 · month-end close $33.01Aug 26 · month-end close $28.24Sep 26 · month-end close $26.60Oct 26 · month-end close $25.68Nov 26 · month-end close $29.11

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Nov 9, 2026 · 57 ratings

Frequently asked questions

Where can I trade JD perpetual futures?

JD.com, Inc. (JD) perpetual futures trade on 9 crypto venues, including Ourbit, BingX, HTX. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade JD around the clock?

Yes. Unlike the underlying stock, JD perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on JD perpetuals?

Right now the JD perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to +5.5% across 9 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the JD perp price compare to the JD.com, Inc. stock?

The venue-median JD perp mark is $28.4 versus a reference stock price of $28.4, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a JD perpetual future?

A JD perpetual is a derivative that tracks the price of JD.com, Inc. with no expiry date. It lets you take long or short exposure to JD.com, Inc. on crypto venues, around the clock.

What is JDUSDT perpetual?

JDUSDT is the symbol most crypto exchanges use for the JD.com, Inc. perpetual settled in USDT (Tether). It tracks the JD share price through an index, trades 24/7 with leverage and never expires.

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Analysts who hit 70%+ of their targets on the perps we track, congress buys over $500k, 13F positions over $5M, funding spreads that have paid for days. Every post shows the evidence. Free, no sign-up.

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